ILOILO CITY — After Mayor Raisa Treñas-Chu publicly lashed out, the Philippine Statistics Authority (PSA) in Western Visayas retracted its analysis while blaming the media for alleged wrong reporting on the impact of real property tax (RPT) tax hike on inflation. The PSA-6’s change of tone...
Makati City Mayor Nancy Binay on Tuesday, Aug. 19, signed an ordinance that will provide immediate tax relief to residents and businesses affected by severe flooding from July 21 to 25. City Ordinance No. 2025-A-001, enacted by the Sangguniang Panlungsod on Monday, Aug. 11, waives penalties,...
While the previous administration warned that imposing a “wealth tax” on the rich could trigger capital flight and tax avoidance, Finance Secretary Ralph G. Recto—the chief economic manager of the Marcos Jr. administration—said he would support Congress if it proposes such a measure. “Let...
ILOILO CITY—Neophyte Mayor Raisa Treñas-Chu was irked as she defended the 300 percent increase in real property tax (RPT) pushed by her father and predecessor former Mayor Jerry Treñas. Chu was visibly angry on Monday, Aug. 18, when media asked for reaction after the Philippine Statistics...
Even as revenue-raising general tax amnesty and online gambling tax measures are being studied by the Marcos administration for enactment this year, Fitch Solutions’ unit BMI has maintained its forecast that the government will exceed its widened fiscal deficit of 5.5 percent of economic...
Makati City Councilor Martin Arenas said on Tuesday, July 29, that the councilors from the majority bloc of the Makati City Council will oppose any attempt by Mayor Nancy Binay to increase Real Property Taxes (RPT) in the city. Arenas made the statement following Binay 's alleged unannounced...
CEBU CITY – Fourteen local government units (LGUs) in Bohol province were recognized for their exemplary tax collection performance in 2024. The recognition was handed out by the Provincial Treasurer’s Office (PTO) in partnership with the Bohol Municipal Treasurer’s League. The award was...
The share of tax revenues to the Philippine economy has lingered below the regional average of efficient collections, highlighting the need to further improve tax administration and enforcement. The Organization for Economic Co-operation and Development’s (OECD) Revenue Statistics in Asia and the...
The Court of Tax Appeals (CTA) has formally decreed that the Independent Electricity Market Operator of the Philippines (IEMOP), as the duly authorized operating entity of the Wholesale Electricity Spot Market (WESM), is not exempt from paying income tax - and that effectively upheld an earlier...
Senator Pia Cayetano on Sunday, June 15 expressed strong support for calls to uphold the mandatory allocation of sin tax revenues to the Philippine Health Insurance Corp. (PhilHealth) following the agency’s zero budget in the 2025 national appropriations. Cayetano joined the call after a petition...
The Philippine Rural Electric Cooperatives Association, Inc. (PHILRECA) has expressed its support for the proposal to eliminate the multiple value-added tax (VAT) on electricity, which is expected to result in lower power rates for consumers. In a statement on Thursday, May 22, PHILRECA said the...
The Bureau of Internal Revenue (BIR) has introduced simplified procedures for value-added tax (VAT) refund claims, as part of its implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) MORE Act. Detailed in Revenue Memorandum Circular (RMC) No. 37-2025, the changes aim...
